Module 1: Business Analysis Overview and BABOK

Glossary

Welcome! The alphabetized glossary contains many of the terms you'll find within this module. This comprehensive glossary also includes additional industry-recognized terms not used in the videos. These terms are important for you to recognize when working in the industry, participating in user groups, and participating in other certificate programs.

Estimated reading time: 5 minutes

Term	Definition
Agile	A flexible and iterative approach to project management and software development that focuses on collaboration, customer feedback, and rapid delivery of small, incremental improvements.
Analytical skill	The ability to assess and interpret data to solve problems, identify trends, and make informed decisions through logical thinking and critical evaluation.
BABOK or Business Analysis Body of Knowledge	A comprehensive guide that sets the standard for business analysis, covering key knowledge areas, tasks, techniques, perspectives, and competencies. It is developed by the International Institute of Business Analysis (IIBA).
Balanced scorecard	A framework that relates a company's vision with its goals, measures, and initiatives. It translates an organization's strategic objectives into a set of performance measures across multiple perspectives (financial, customer, internal processes, learning, and growth).
Business architecture	A discipline that assists organizations in designing and operating efficiently by mapping and analyzing their business processes, information flows, and organizational structure. As per BABOK, it is one of the perspectives that streamlines business analysis.
Business process management (BPM)	A systematic approach to improving, optimizing, and automating organizational processes to enhance efficiency and achieve business goals.
Business Process Model and Notation(BPMN)	A standardized graphical representation used to model business processes, allowing businesses to visualize workflows, understand process logic, and communicate processes across teams clearly.
Business Requirements Document(BRD)	A document that outlines the requirements and solutions for a business project. It covers the user's needs, the reason for the solution, and any major constraints that could affect its success.
Certified Analytics Professional (CAP)	A globally recognized certification for analytics professionals that validates their ability to transform complex data into valuable insights and informed decisions, ensuring proficiency in the analytics process from data collection to model development and interpretation.
Certified Business Analysis Professional (CBAP)	A globally recognized certification awarded by the International Institute of Business Analysis (IIBA) to professionals with extensive experience in business analysis who demonstrate expertise in identifying and driving business solutions.
Change Control Boards (CCBs)	A team that reviews and determines whether to approve proposed changes to a project.
Change management	A structured approach to transitioning individuals, teams, and organizations from a current state to a desired future state, ensuring that changes are implemented smoothly and successfully while minimizing resistance and disruption.
Data modeling	A technique that involves creating a data object's visual representation, their relationships, and rules. It helps in understanding data requirements and designing effective data management solutions.
Entry Certificate in Business Analysis (ECBA)	An entry-level certification offered by the International Institute of Business Analysis (IIBA) that validates foundational knowledge in business analysis and is ideal for individuals new to the field.
Gantt chart	A horizontal bar chart used to visually represent a project schedule.
Jira	A project management and issue-tracking tool developed by Atlassian, primarily used by software development teams to manage tasks, track bugs, and oversee workflows in Agile environments.
Lean	A methodology focused on maximizing value and minimizing waste in processes by continuously improving workflows, commonly used in manufacturing, project management, and software development.
Lucidchart	A cloud-based diagramming and visual collaboration tool that allows users to create flowcharts, process maps, entity-relationship (ER) diagrams, and other visual representations to simplify complex ideas and processes.
Microsoft Excel	A powerful spreadsheet application developed by Microsoft that allows users to organize, analyze, and manipulate data through functions, charts, and formulas, making it essential for tasks ranging from simple data entry to complex financial modeling.
Microsoft PowerPoint	A presentation software that allows users to create, edit, and display slideshows consisting of text, images, videos, charts, and other media, often used for business, education, and personal presentations.
Microsoft Project	A project management software designed to help teams plan, schedule, and track the progress of projects, allocate resources, and manage tasks across multiple projects.
Microsoft Teams	A collaboration platform that integrates workplace chat, meetings, file sharing, and app integration, enabling seamless communication and teamwork across organizations.
Microsoft Visio	A diagramming and vector graphics application that helps users create detailed flowcharts, organizational charts, network diagrams, and other visual representations of complex processes or systems.
MoSCoW prioritization	A method used in business analysis and project management to categorize requirements into four priority groups: Must Have, Should Have, Could Have, and Won't Have, helping teams focus on the most critical tasks for a successful project.
PESTLE analysis	A strategic framework that examines the external factors—Political, Economic, Social, Technological, Legal, and Environmental—that influence an organization or industry.
Porter's five forces	A framework for analyzing an industry's competitive forces. The five forces are Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry.
Power BI	A business analytics tool by Microsoft that allows users to visualize data, create interactive dashboards, and generate insights to support data-driven decision-making.
Process modeling	A BPM technique that visually represents business processes to help stakeholders understand their current and future states.
Requirements analysis and design definition	A set of tasks performed by business analysts to ensure that a project's requirements are well understood, documented, and meet business needs. It is a knowledge area defined in BABOK.
Requirements lifecycle management	Involves tasks that a business analyst performs to manage and maintain requirements. It is a knowledge area defined in BABOK.
Scope creep	The uncontrolled expansion of a project's scope due to changes or additional requirements being introduced without proper management, leading to delays, increased costs, and potential project failure.
Slack	A communication and collaboration platform that allows teams to send messages, share files, and integrate with other tools to streamline workflows and improve team productivity.
SWOT analysis	A strategic planning tool used to evaluate an organization's internal strengths and weaknesses, as well as external opportunities and threats, to informed decision-making and strategy development.
Tableau	A powerful data visualization and BI tool that allows users to create interactive dashboards and reports, making it easier to analyze large data sets and present insights visually.
User acceptance testing (UAT)	The final phase of the software testing process where users test the system to ensure it meets their business requirements and functions as expected before its official release.
User story	An informal, short description of a feature conveyed from the perspective of the user. User stories typically follow the format “As a [user], I want [goal] so that [reason].”
Wireframe	A simple visual outline of an app or product layout that shows how it will function and how users will interact with it.